HOW YOUR SPENDING HABITS MAKES YOU RICH?

Hello Friends, 

My this blog is related to tell you about How your spending habits makes you rich?

Your Spending habits is the best tool to make you rich. A famous quote is:

"It is not your salary that makes you rich, its your spending habits." 

Just take an example:

• Mr. A having monthly income of Rs. 35000 p.m. and spend all his income on his expenses and at the end of the month he has no money to save.

• Mr. B having monthly income of Rs. 35000 p.m. and spend Rs. 25000 after making some savings (a kind of spend on savings) of Rs. 10000 in various income sources.

After 10 years, Mr. A suffers with an emergency but he has no savings. So it is a very tough situation for him to handle that emergency so he takes some Loan to overcome his problem but it will also increase his liabilities.

On the other side Mr. B has all the savings and it is easy for him to handle the situation.

So how it is possible for Mr. B to handle the situation in a better way rather than Mr. A.

So the conclusion is :

• Mr. A spends all his money but making no savings. So his spending habits makes it difficult for him to handle with the emergency situation.
• Mr. B savings (spends in savings) habit helpful for him to handle the situation carefully and smartly.

It is clear that your salary can't makes you rich but your spending habits can.

The following tips are helpful to make you rich :

• Start doing savings as early as possible.
• Make your investment in diversify funds. 
• First Save and then Spend.
• Compounding creates magic. 
• Invest your money for the long term.
• Create an emergency fund

I hope it will helpful to you.

Thanks and Regards

Kulvinder Kaur
B.Com(H), MBA(Finance)

9871580806, 8826566751
rightsteptoinvest@gmail.com